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The oil market could be heading for a supply crunch from 2025 onwards as oil exploration fails to keep pace with demand, Occidental Petroleum Chief Executive Vicki Hollub said on Tuesday. Hollub, who spoke on the sidelines of the World Economic Forum in Davos, said U.S. WTI crude prices could trade in the $80-$85 a …
Market to be Short Oil From 2025 Onwards, Occidental CEO at Davos Read More »
Ercot urges people to conserve energy Tuesday morning Texas grid holds up Monday despite record demand for winter Texas faces another power grid test Tuesday after surviving record winter demand as freezing weather strains electricity systems across North America. While the state’s grid held up Monday, its operator issued a conservation plea for 6 a.m. …
Texas Sets New Electricity Record, Faces More Tests From Freeze Read More »
(Reuters) – Oil prices rose on Tuesday, as investors weighed the impact of tensions in the Middle East. Brent crude futures gained 77 cents, or about 0.99%, to $78.92 a barrel at 1014 GMT. The contract had lost 14 cents on Monday. U.S. West Texas Intermediate crude was up 46 cents, or 0.63%, from Friday …
(Reuters) – The effective closure of the Red Sea to tankers carrying liquefied natural gas (LNG), while a concern, is unlikely to shift prices for the super-chilled fuel because other factors are driving the market. QatarEnergy, the world’s second-biggest LNG shipper, has stopped sending tankers via the Red Sea, a senior source with direct knowledge of …
Red Sea Disruptions Not (Yet) Enough to Trouble LNG Prices Read More »
NEW YORK, Jan 16 (Reuters) – Developers of renewable energy projects selling unused U.S. tax credits to other companies now account for a market worth between $7 billion and $9 billion, buoyed by legislation in 2022 that made these trades possible, a new study shows. President Joe Biden’s climate law aimed to stoke trillions of dollars of investment to …
U.S. Energy Tax Credit Trading Grows to as Much as $9 billion, Study Finds Read More »
North Dakota oil production has fallen by 400,000 to 425,000 barrels per day and gas output is down 1.0 billion to 1.1 billion cubic feet per day on extreme cold and related operational issues, the North Dakota Pipeline Authority estimated on Monday. Canadian gas continued to flow to the U.S. midcontinent through the Northern Border …
North Dakota Oil Output Drops up to 425,000 Bpd on Freezing Weather Read More »
Reuters North Dakota oil production has fallen by an estimated 250,000 to 280,000 barrels per day due to freezing weather, while natural gas output in the state declined by 700 million to 800 million cubic feet per day, the North Dakota Pipeline Authority estimated on Sunday.An Arctic blast is blanketing much of the United States, …
North Dakota Oil Output Off by up to 280,000 Bpd Due to Cold Weather Read More »
A man stands outside a coffee shop after a blizzard left several inches of snow, in downtown Des Moines, Iowa, U.S., January 13, 2024. REUTERS/Marco Bello/File Photo Acquire Licensing Rights (Reuters) – U.S. natural gas output fell to a preliminary 11-month low on Sunday as frigid weather froze wells across the country, while gas demand for heating …
Frigid Temps Cut U.S. Natural Gas Supply as Demand Soars, Texas Faces Possible Shortfall Read More »
(Reuters) – Oil prices lost more than 1% on Monday as the Middle East conflict’s limited impact on crude output prompted profit taking after oil benchmarks gained 2% last week. Brent crude futures were down $1.14, or about 1.5%, at $77.15 a barrel by 1250 GMT and U.S. West Texas Intermediate crude lost $1.15, or …
Oil Drops More Than 1% Despite Middle East Conflict Read More »
Environmental groups ramp up efforts to oppose LNG terminals. As the Biden administration weighs a tougher climate test for US natural gas export terminals, several projects and tens of billions of dollars in investments are hanging in the balance. Environmentalists are doubling down on efforts to oppose liquefied natural gas terminals seeking government approval, warning they’ll significantly prolong …
Natural Gas Export Projects Hang in the Balance as Biden Mulls Climate Test Read More »
